Bill Amendment: IL HB4841 | 2025-2026 | 104th General Assembly

NOTE: For additional amemendments please see the Bill Drafting List

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Bill Title: INC TX-AFFORDABLE HOUSING

Status: 2026-04-17 - Rule 19(a) / Re-referred to Rules Committee [HB4841 Detail]

Download: Illinois-2025-HB4841-House_Amendment_001.html

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Rep. Martha Deuter

Filed: 3/19/2026

 

 

 

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AMENDMENT TO HOUSE BILL 4841
AMENDMENT NO. ______. Amend House Bill 4841 by replacing
everything after the enacting clause with the following:
"Section 5. The Illinois Income Tax Act is amended by
changing Section 214 as follows:
(35 ILCS 5/214)
Sec. 214. Tax credit for affordable housing donations.
(a) Beginning with taxable years ending on or after
December 31, 2001 and until the taxable year ending on
December 31, 2036 December 31, 2026, a taxpayer who makes a
donation under Section 7.28 of the Illinois Housing
Development Act is entitled to a credit against the tax
imposed by subsections (a) and (b) of Section 201 in an amount
equal to 50% of the value of the donation. For taxable years
ending before December 31, 2023, partners, shareholders of
subchapter S corporations, and owners of limited liability

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companies (if the limited liability company is treated as a
partnership for purposes of federal and State income taxation)
are entitled to a credit under this Section to be determined in
accordance with the determination of income and distributive
share of income under Sections 702 and 703 and subchapter S of
the Internal Revenue Code. For taxable years ending on or
after December 31, 2023, partners and shareholders of
subchapter S corporations are entitled to a credit under this
Section as provided in Section 251. Persons or entities not
subject to the tax imposed by subsections (a) and (b) of
Section 201 and who make a donation under Section 7.28 of the
Illinois Housing Development Act are entitled to a credit as
described in this subsection and may transfer that credit as
described in subsection (c).
(b) If the amount of the credit exceeds the tax liability
for the year, the excess may be carried forward and applied to
the tax liability of the 5 taxable years following the excess
credit year. The tax credit shall be applied to the earliest
year for which there is a tax liability. If there are credits
for more than one year that are available to offset a
liability, the earlier credit shall be applied first.
(c) The transfer of the tax credit allowed under this
Section may be made (i) to the purchaser of land that has been
designated solely for affordable housing projects in
accordance with the Illinois Housing Development Act or (ii)
to another donor who has also made a donation in accordance

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with Section 7.28 of the Illinois Housing Development Act.
(d) A taxpayer claiming the credit provided by this
Section must maintain and record any information that the
Department may require by regulation regarding the project for
which the credit is claimed. When claiming the credit provided
by this Section, the taxpayer must provide information
regarding the taxpayer's donation to the project under the
Illinois Housing Development Act.
(Source: P.A. 102-16, eff. 6-17-21; 102-175, eff. 7-29-21;
103-396, eff. 1-1-24.)
Section 99. Effective date. This Act takes effect upon
becoming law.".